The Little Holmby home at 10614 Le Conte Ave had been in escrow for about 30 days and returned to the active market this week. Priced at $1,849,000, this still seems like a well price home that will get snatched up in the short term.

The south of Wilshire home at 1260 Holmby Ave had been in escrow for about 3 weeks and also returned to the active market this week. The asking price for this 3+2, 2,200+ sq ft, 7,000+ sq ft lot home is $1,399,000.

The Westwood Little Holmby home at 629 Westholme Ave lasted 32 days on the market before receiving an accepted offer on 8/20/10. The home came to the market on 7/19/10 with an asking price of $1,499,000. And then closed on 9/28/10 with a final sales price of $1,260,000. At first glance this seems very low for the neighborhood. And that is somewhat correct, it is on the low side. However, this home is right on the edge of the neigbhoorhood, next to Hilgard (busy street). There is almost no backyard space and a college fraternity or sorority house looked right into the back of the house as well. Additionally, while clean, the house was in original type condition.What is interesting is the MLS states this sales price reflects an all cash, contingency free and tenants in the home. The biggest kicker is the tenant occupied portion of that statement. According to the MLS, the home is a 3 bedroom / 3 bath, 2,509 sq ft of living space on a 8,102 sq ft lot.

The Westwood short sale at 10775 Rochester Ave lasted 15 days on the market before accepting an offer to send to the bank, waaay back on March 9th, 2010. The home came to the market in February with an asking price of $1,095,000. Because it was under priced for the neighborhood, it received a plethora of offers. I would be curious to know whether the buyer that ultimately bought the home, was the buyer in first position all along. With the property taking about 7 months to close, it's possible the first buyer walked and one of the backup buyers got the house. That scenario is not all that uncommon with a short sale. The previous sale was in 2001 for $765,000. So it must have been a cash out situation that ended up putting the seller in a short sale situation. The home closed on 9/29/10 with a final sales price of $1,164,900. According to the MLS, the home is a 3 bedroom / 2 bath, 1,822 sq ft of living space on a 6,550 sq ft lot.

The home at 2206 Overland Ave., LA CA 90064 received a 9.44% or $76,000 price reduction this week, down to $729,000. Listed on 2/3/10 for $919,000, this is the 3rd price reduction of the current listing term. The property spent about 4 months in escrow, starting in May, only to come back to market in the middle of September. However, the MLS states the home is now an approved Short Sale with the ability to close in 30 days.
According to the MLS, the home is a 4 bedroom / 1.75 bath, 2,054 sq ft of living space on a 6,750 sq ft lot. In typical Overland Ave fashion, you get alot of house for the money compared to being off the busier street. The home is now asking less than what it was purchased for (875,000 in 2005).

The Little Holmby home at 301 Loring Ave., LA CA 90024 came on the market 7/28/10 with an asking price of $2,995,000 and received an accepted offer just 14 days later. The home closed on 9/21/10 with a final sales price of $2,770,000 [SP/SF: $642.99].

According to the MLS, the home is a 6 bedroom / 4.5 bath, 5,017 sq ft of living space on a 13,500 sq ft lot. The stats above include the 1+1 guesthouse in the front. This is the first time 301 Loring Ave has been on the market in 50+ years. From the street, this home looks like the grand 'Little Holmby' home someone would envision buying in this neighborhood. It sits on the rear portion of the lot, so most of the usable yard is in the front of the house. While this setback does create a beautiful setting in the front, perched above the street, it does limit backyard space. The only real rear yard is a patio area off the living room. There may have been some updates since the house was originally built in 1931, however, it's current condition is begging for someone to come in and gut the house and remodel.

The Westwood Hills Short Sale at 411 Denslow Ave., LA CA 90049 received a price reduction of 4.17% or $50,000, down to $1,149,000. Listed 83 days ago for $1,395,000, this is the 3rd price change of the listing term. According to the MLS, the home is a 4 bedroom/ 4 bath, multi-level home, with 3,248 sq ft of living space on a 7,070 sq ft lot. This is a short sale listing. Final price and terms subject to lien holder approval. This Westwood Hills home last sold in 2005 for $1,725,000.

The Westwood home at 10551 Kinnard Ave, LA CA 90024 lasted 12 days on the market before receiving an accepted offer on 8/18/10. Listed on 8/6/10 for $1,399,000, the home closed approx 96.5% of the asking price at $1,350,000 [SP/SF: $636]. According to the MLS, the home is a 4 bedroom / 3 bath, 2,124 sq ft of living space on a 7,800 sq ft lot. The home had been restored/remodeled throughout and was in move in condition.

The Westwood Hills home at 517 Veteran Avenue, LA CA 90024 received a price reduction of 11.14% or $200,000, down to $1,595,000. Listed 153 days ago on 4/21/10 for $1,950,000, this is the 2nd price reduction of the listing term. The MLS states the home is a 5 bedroom /4 bath, 4,151 sq ft of living space on a 8,505 sq ft lot.

The Westwood home at 2150 Overland Ave, LA CA 90025 received a price change this week of 9.26% or $74,000, down to $725,000. Listed 159 days ago for $849,000, this is the 2nd price reduction of the current listing term. According to the MLS, the home is a 3 bedroom / 1 bath, 1,329 sq ft of living space on a 5,400 sq ft lot. The reason this home is offered so cheap is because of the location discount it must offer for being at the intersection of two major streets.

The Westwood home at 10314 Calvin Ave, LA CA 90025 lasted 6 days on the market before receiving an accepted offer on 7/28/10. This time around, the property was listed on the market with an asking price of $1,195,000. The home closed on 9/15/10 with a sales price of $1,175,000 [SP/SF: $674.13]. Previously, the home was purchased in 2006 for $1,212,000. This equates to only a modest 3% decline since the "peakish" timeframe. According to the MLS, the home is a 3 bedroom / 2.5 bath, 1,743 sq ft of living space on a 5,800 sq ft lot.

The Westwood Little Holmby home at 967 Malcolm Ave, LA CA 90024 received a price reduction this week of 6.39% or $150,000, down to $2,199,000. This is now the 2nd $100k+ price reduction of the current listing term. The previous reduction came approximately 2 months ago. The current days on market (DOM) is now at 105 days, as of today. According to the MLS, the home is a 5 bedroom / 4.5 bath, 4,609 sq ft of living space on a 8,102 sq ft lot. The home has been mostly remodeled throughout and is in move-in condition. A couple of the bathrooms upstairs have original looking Spanish tile, however they look to be in great condition.

The Westwood Spanish at 2045 Parnell Ave LA CA 90025 received a new price reduction this week of 6.67% or $100,000, down to $1,399,000. Listed on 5/5/10, this is the 3rd price reduction of the current listing term. This reduction is coming just after being in escrow for the past month with a buyer. According to the MLS, this home is a 6 bedroom / 3.75 bath, 2,906 sq ft of living space on a 6,750 sq ft lot. This home features a rare subterranean parking garage, remodeled gourmet kitchen and a large grassy yard.